The Abu Dhabi Securities Exchange (ADX) said Monday it has listed the 1 billion euros ($1.2 billion) in dual-tranche bonds issued by UAE telecoms operator Etisalat.
The issuance, which was more than six times oversubscribed, has been listed in two equal tranches maturing in 2028 and 2033, ADX said in a statement.
The first 500 million euros in seven-year notes are set to mature on May 17, 2028 and carry a 0.375 percent coupon. The second tranche of 500 million euros will mature on May 17, 2033 and carry a 0.875 percent coupon.
ADX is looking to increase the number of listings on the exchange and double the market capitalisation over the next three years.
Etisalat’s bonds come on the heels of Abu Dhabi Ports’ $1 billion listing earlier this month and the listing in April of 1.1 billion euros of bonds issued by Mamoura Diversified Global Holding, a subsidiary of Mubadala Investment Company.
(Writing by Cleofe Maceda; editing by Seban Scaria)
Disclaimer: This article is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Read our full disclaimer policy here.
© ZAWYA 2021